CITY OF INDUSTRY, CALIF. — Lee & Associates has negotiated the purchase and co-brokered the $6.59 million sale of an 81,250-square-foot industrial property located at 20465 Walnut Drive in the City of Industry. Lee’s Adam Dzierzynski and Dennis Keane represented the undisclosed buyer in the transaction, and Lee’s Jack Cline and Peter Bacci joined with Kent Stalwick of CB Richard Ellis in representing the seller, Hager Pacific Properties. Looking to purchase a warehouse to house auto-racing parts, the buyer plans to occupy the building in August after showroom build-out and substantial improvements to the office space.
Industrial
CITY OF INDUSTRY, CALIF. — Binswanger/Realty Advisory Group has negotiated the nearly $4.6 million purchase of a 47,108-square-foot, Class A distribution facility located at 19535 East Walnut Drive in the City of Industry. BRAG’s Mark Repstad and Rustin Mork represented 19535 E Walnut LLC in its acquisition of the property, which was constructed in 2002 and features two-story offices, a private yard and dock-high loading capabilities.
MINNEAPOLIS — Minneapolis-based NorthMarq Capital has arranged a $27.05 million loan for a four-property, cross-collateralized portfolio of industrial properties. Totaling 517,240 square feet the properties include 9600 and 9700 West 76th Street in Eden Prairie, Minn.; 1908-2000 Innerbelt in Overland, Mo.; 2325 – 2375 Camino Vida Roble in Carlsbad, Calif.; and 20700 Denker in Torrance, Calif. Major tenants in the properties include Digital River, Build-A-Bear, Sanko Electronics America and Hanna Water Holdings. Financing terms were based on a 10-year term with a 25-year amortization schedule. NorthMarq arranged the financing for the borrowers, affiliates of First Industrial Realty Trust, through its correspondent relationship with National Life Insurance Co. NorthMarq’s Jeff Frankel, Jim Hoopes, Eric Flyckt, Jeff Chaney, David Garfinkel and Rob Hervey brokered the transaction.
FAIRLESS HILLS, PA. — CSC Sugar has signed a lease for a 161,000-square-foot industrial facility located within Fairless Hill's Keystone Industrial Port Complex. The company plans to use the facility, located on the former site of a U.S. Steel plant, as a sugar refinery. Rick Leighton of NAI Global joined with Jeff Licht, Adam Lashner and Fred Myers of local affiliate NAI Mertz to represent the landlord. The tenant signed for a 5-year term.
SAVAGE, MD. — Hanna Paper Recycling has renewed its 58,825-square-foot warehouse lease at 8840 Greenwood Place in Savage. Cassidy Turley's Michael Bosica represented Hanna Paper. Ryan Commercial's Matt Ryan and Tom Whelan represented the landlord.
GLENDALE, WIS. — General Plastics Inc. has signed a lease for 7,200 square feet of industrial space in Glendale. The property is located at 6631 and 6633 N. Sidney Place. Brian Parrish, Samuel M. Dickman Jr. and Samuel D. Dickman of The Dickman Company brokered the transaction. The landlord is Glendale Business Center LLC. Terms of the lease were not disclosed.
IRVING, TEXAS — KBS Real Estate Investment Trust II has purchased the 400,123-square-foot Dallas Cowboys Distribution Facility from a private seller for an undisclosed price. Located at 2500 Regent Blvd. in Irving, the 1-year-old property is fully occupied by Dallas Cowboys merchandising firms. CB Richard Ellis' Jack Fraker and Josh McArtor represented the seller, and KBS was represented internally.
RICHMOND, VA. — Bigge Crane & Rigging has purchased a 20,000-square-foot warehouse from Speight for $1.7 million. The property is located at 2350 and 2400 Maury St. in Richmond. Bigge will use the property as its new East Coast headquarters. Thalhimer's Franklin Bell brokered the sale.
LAKELAND, FLA. — An undisclosed national bank has sold the 59,102-square-foot Highlands Storage to a private party for $1.25 million in an REO sale. The property is located at 4733 Exploration Ave. in Lakeland. Michael Mele of Marcus & Millichap's Tampa, Fla., office brokered the sale.
MILWAUKEE — Brian Parrish of The Dickman Company has completed two sales totaling 24,330 square feet in Milwaukee. In the first transaction, 13TH4828 LLC acquired a 12,830-square-foot industrial property, which is located at 4828 S. 13th St. in Milwaukee. Hartmann Properties sold the building for $475,000. Parrish represented both parties in the transaction. In the second deal, Parrish represented Seeds of Health in the acquisition of an 11,500-square-foot office building, located at 131-141 S. 1st St. in Milwaukee. The buyer plans to convert the property into a virtual school, which will be ready for occupancy in this fall. JRB VII LLC sold the property for an undisclosed price. Marianne Burish of Siegel-Gallagher represented the seller in the transaction.